Tehran – The Iranian Securities and Exchange Organization (SEO) has issued new regulations to facilitate and adapt transactions on the capital market, announced the SEO director Mohammad-Ali Dehqan Dehnavi.
As reported by ILNA, the aforementioned regulations and decisions were approved in a board meeting on Friday.
In order to support the capital market and strengthen the demand side, according to Dehnavi, the capital market development fund was initially allowed to finance up to 30 trillion rials (approx. USD 714.2 million) by issuing subordinated securities.
Second, it was decided to increase the share price adjustment coefficient and the subscription rights of the shares in credit transactions from 45 percent to 60 percent, the official said.
According to the third decree, it was decided to review the executive branch’s instructions for buying, maintaining and offering own shares in order to facilitate the purchase and maintenance by the issuer.
The issuing of credit cards by banks to holders of justice shares was another decision made at this meeting that will be operational in the coming week.
“Negotiations to expand these services to other shareholders, especially small shareholders, should also be on the agenda,” he said.
It was also decided to review the preference stock guidelines so that employees of the subsidiaries or the parent company or the entire financial group can be granted preferred stock in addition to direct employees of certain companies.
The SEO director also emphasized that in order to promote transparency and provide up-to-date information; The revaluation of corporate assets should be accelerated and facilitated.
Also at this meeting other important topics were discussed, such as the creation of peace in the market, the participation and responsibility for external and internal market elements, the improvement of state support for the market and the fulfillment of the remaining obligations of the National Development Fund (NDF) and important proposals have been made, the official added.
EF / MA